Apple’s Smartphone Shipments Drop 10% in First Quarter of 2024, Losing Top Spot to Samsung
In a surprising turn of events, Apple’s smartphone shipments have dropped about 10% in the first quarter of 2024, according to data from research firm IDC. This decline comes as Android smartphone makers intensify their competition, aiming to dethrone Apple from the top spot in the market.
Global smartphone shipments, on the other hand, increased by 7.8% to 289.4 million units during January-March. Samsung, with a market share of 20.8%, has now clinched the top spot from Apple, marking a significant shift in the industry.
Apple’s decline in sales comes after a strong performance in the previous quarter when it surpassed Samsung as the world’s No.1 phone maker. However, Chinese brands like Huawei have been gaining market share, pushing Apple back to the second spot with a market share of 17.3%.
Xiaomi, one of China’s top smartphone makers, now holds the third position with a market share of 14.1%. Meanwhile, Samsung, which launched its latest flagship smartphone lineup – the Galaxy S24 series – at the beginning of the year, shipped over 60 million phones during the period.
The global sales of the Galaxy S24 smartphones saw an 8% jump compared to the previous year’s Galaxy S23 series, indicating a strong performance for Samsung in the market.
In contrast, Apple shipped 50.1 million iPhones in the first quarter, down from 55.4 million units shipped during the same period last year. The company also faced challenges in China, where its smartphone shipments shrank by 2.1% in the final quarter of 2023.
As Apple prepares for its Worldwide Developers Conference (WWDC) in June, investors are eagerly awaiting updates on the company’s artificial intelligence development. Apple has been relatively quiet about incorporating AI technology into its devices, a move that could potentially boost its competitiveness in the market.
Overall, the smartphone industry is witnessing a shift in power dynamics, with Samsung emerging as the new leader and Apple facing tough competition from Android manufacturers. It remains to be seen how Apple will respond to these challenges and whether it can regain its position at the top of the market.